Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1887-01-03
The Surplus.

What is to be done with the surplus IN
the Treasury? We heard great deal
about this surplus before Cleveland was
elected President, and we have just heard
from the President and Secretary OF the
Treasury that it ought to be reduced. But
in what way? No plan of reduction has
been proposed on the democratic side.
The democratic majority in the House, by
which only the initiatory steps for the
proposed reduction can come. have offered
no plan and seem to be utterly without
the ability or the wish to do so. The re-
publicans, being in a minority. can do
nothing. Prominent republicans in both
branches of Congress have declared their
opinion that the surplus should be reduced
and called upon the democrats to initiate
some feasible plan for reduction, but the
plan is not forthcoming.
Senator Sherman in a recent speech
touching the tariff announced himself in
favor of reducing the surplus but not by
destroying the industries of the countries
as the free traders would if they had the
power. The only reduction in taxation
for ten years was brought about by the
republicans when they had bare ajori-
ty in both branches of Congress, against
the strenuous opposition of the democrats.
The reduction amounted to $50, 000.0 900
and nothing in that direction has been
done since the democrats got control Of
the House. Senator Sherman's closing
remarks so clearly present the situation
in regard to reducing taxation that we
copy them
Sir, the theory and doctrine of the republi-
can party which We represent is this, that we
will maintain the system of duties on foreign
goods. not to the extent of prohibition, not
at such rates as would relieve our own peo-
pie from reasonable competition. but such a.
will induce home competition, and thus re
duce the price to reasonable rate. We
will levy such duties on foreign goods to the
extent that they are imported will induce
their production here. And now, sir, it so
happens in the progress of this system that
nearly every article necessary for ordinary
human life consumed in the homes of the
families of our country is of American
growth and production.
There are S300.000,000 of foreign goods
imported. manufactured abroad, which COM
pete with ours. There are more than So 000-
900 900 manufactured in our own country out
of the 5 SOC. 900 900 altogether. the production
of winch has been caused ny this protective
policy. Now, we have built up this system
Of industry. We do not want it tempered
with except with great care and by men who
are disposed to foster and favor it. | wish to
say to our democratic friends there are three
months yet LETT in their lease Of power. con
ferred two years ago. If you can propose 4
test and promise of your democratic
platform, that is, to reduce taxes
wsthout injuring the industries of this
country, you will find on this side
of the chamber that we are ready
participants and partaksrs with you IN that
great and glorious work but when you strike
at the industries of our people, and seek to
derange that which is now well, and tam
per with these protective dutes which foster
and Diversity and have built up our great
industries, then we are opposed to you, fret,
because We do not want to see the labor of
our country brought down to . hard and
grinding competition with the lily paid labor
of Europe; next, because we want to see
diversified production in this country. 30 that
the United States may be absolutely indie
pendent. not only in political sense, but in
= financial and commercial sense. and 90
that we can make in this country every
article essential to ordinary human want and
employment. This is what we believe in,
and until the democratic party can agree
among themselves and present to us "a plan
which they will be willing to stand up by,
they have no right to chide US. and no right
to complain of us When they send US .
bill we will show them that we have the
power to reduce taxes. and will propose a
method by which taxes may be reduced with
out Gripping our industries or decreasing the
ordinary wages of labor paid to our working
men.